Saturday, October 04, 2008

1) You just got bailed out by the government, so those are now publicly-owned mortages that you're giving up because this lady shot herself.
2) You're teaching all sorts of negative life lessons by forgiving someone who takes irrational action in response to foreclosure. Now, we can expect a lot more people to at least contemplate this kind of stupid act in the hopes that it will protect them somehow.

Who in their right mind would make this loan in the first place? It's a mortgage for $45,000 that they actually gave to an 86-year-old woman. It might be one of the best examples of predatory lending. But that doesn't give us any reason to forgive a loan to a woman just because she doesn't have the sense not to kill herself.